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Use of ICN Merger Materials in preparation of new merger regime 6 th ICN Annual Conference

Use of ICN Merger Materials in preparation of new merger regime 6 th ICN Annual Conference 1 June 2007. ICN Merger Materials Consulted. Guiding Principles for Merger Notification and Review Procedures Recommended Practices for Merger Notification Procedures

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Use of ICN Merger Materials in preparation of new merger regime 6 th ICN Annual Conference

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  1. Use of ICN Merger Materials in preparation of new merger regime 6th ICN Annual Conference 1 June 2007

  2. ICN Merger Materials Consulted • Guiding Principles for Merger Notification and Review Procedures • Recommended Practices for Merger Notification Procedures • Merger Notification and Procedures Template • Merger Notification Filing Fees • ICN Merger Guidelines Workbook • Merger Remedies Review Project

  3. Process & Key Considerations • Public consultation • Small Open Economy • Minimisation of regulatory and business compliance costs • Transparency

  4. Key Features of Singapore’sMerger regime • Voluntary notification system • Non-suspensive regime • Proceed at own risk pending review • Interim directions • Indicative Thresholds for Notification • Merged entity with 40% market share or more; OR • Merged entity with market share between 20 and 40% and CR3 ≥70% • Timing of Notification • Merger no longer confidential • Confidential pre-notification discussions

  5. Key Features of Singapore’sMerger regime • Review Periods • Phase 1: 30 working days • Phase 2: 120 working days • Requirements of Notification • Joint notification encouraged but not required • Abbreviated form for Phase 1 review • Discretionary waiver • Discretionary supplementation • Confidentiality safeguards • Submission of public version

  6. Key Features of Singapore’sMerger regime • Role of third parties • Comments within 10 working days • Public version of submissions • Procedural Fairness • Written notice of proposed decision / direction • Opportunity to inspect file and make representations • Right of appeal • Commitments and Remedies • Transparency

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